South Korea Non Fungible Token (nft) Market Size & Outlook
South Korea non fungible token (nft) market, 2020-2030 (US$M)
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South Korea non fungible token (nft) market highlights
- The South Korea non fungible token (nft) market generated a revenue of USD 871.0 million in 2023 and is expected to reach USD 7,110.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 35% from 2024 to 2030.
- In terms of segment, collectibles was the largest revenue generating application in 2023.
- Art is the most lucrative application segment registering the fastest growth during the forecast period.
Non fungible token (nft) market data book summary
| Market revenue in 2023 | USD 871.0 million |
| Market revenue in 2030 | USD 7,110.2 million |
| Growth rate | 35% (CAGR from 2023 to 2030) |
| Largest segment | Collectibles |
| Fastest growing segment | Art |
| Historical data | 2020 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Collectibles, Art, Gaming, Utilities, Metaverse, Sports |
| Key market players worldwide | Cloudflare Inc, PLBY Group Inc Ordinary Shares, Dolphin Entertainment Inc, Funko Inc Class A, NFT Ltd Ordinary Shares-Class A, Dapper Labs, YellowHeart, OpenSea, Gemini, Onchain |
Other key industry trends
- In terms of revenue, South Korea accounted for 3.2% of the global non fungible token (nft) market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China non fungible token (nft) market is projected to lead the regional market in terms of revenue in 2030.
- Japan is the fastest growing regional market in Asia Pacific and is projected to reach USD 6,635.7 million by 2030.
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Non Fungible Token (NFT) Market Scope
Non Fungible Token (NFT) Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea non fungible token (nft) market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to non fungible token (nft) market will help companies and investors design strategic landscapes.
Collectibles was the largest segment with a revenue share of 53.52% in 2023. Horizon Databook has segmented the South Korea non fungible token (nft) market based on collectibles, art, gaming, utilities, metaverse, sports covering the revenue growth of each sub-segment from 2020 to 2030.
The South Korean non-fungible token market was The South Korean market is witnessing rising adoption of NFT through partnerships & collaborations. In February 2023, Lotte Group, South Korea’s fifth largest conglomerate, announced its partnership with Polygon, to assist with migrating Belly Gom NFT to the Polygon blockchain and other NFT marketing initiatives.
Furthermore, the South Korean government bureau is pushing for the transition from physical identity cards to smartphone-based identity cards by 2026, which is possible with the use of decentralized identity solutions and is expected to bode well for the growth of the South Korean NFT market.
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Horizon Databook provides a detailed overview of country-level data and insights on the South Korea non fungible token (nft) market , including forecasts for subscribers. This country databook contains high-level insights into South Korea non fungible token (nft) market from 2020 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea non fungible token (NFT) market size, by application, 2020-2030 (US$M)
South Korea Non Fungible Token (NFT) Market Outlook Share, 2023 & 2030 (US$M)
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